Here is the top trending news from the world of technology. News that we feel every tech enthusiast should keep a tab on.
OpenAI to open its First Foreign Office in London
OpenAI, the parent company behind chatbot ChatGPT, has announced that it will unveil its first foreign office in London, U.K. OpenAI CEO Sam Altman said that the move to open office in London was an “opportunity to attract world-class talent” and to “work with the UK’s thriving AI ecosystem.” This move comes nearly weeks after OpenAI’s CEO Sam Altman openly criticized EU’s proposed legislation regulating artificial intelligence, which makes it mandatory for companies like OpenAI to disclose the content used for training their system. The company has been even accused of lobbying with EU officials to water down certain sections in the AI regulation.
Visa acquires Brazilian Fintech Startup Pismo for $1 Bn
In what is potentially the largest M&A deal in the fintech space, card behemoth Visa has announced that it will be acquiring Brazilian fintech startup Pismo for $1.4 Bn. Launched in 2016, Pismo is essentially a cloud-based banking platform that provides banks and other financial institutions ease-to-use tools for helping to launch new digital products instantly. Pismo’s client list includes some of the biggest financial institutions of Brazil and South America including Itaú Unibanco, Bradesco and Nubank. For Visa, acquiring Pismo will help the company in consolidating its growth in Brazil and other developing markets.
U.S is planning new Restrictions on AI Chip Exports to China
The Biden administration is all set to update its chip export control, which was first introduced in October last year. The new updates will make it even more tough for companies like Nvidia and AMD to export advanced chips to China. According to reports, the new updated rules put strict restrictions on exporting advanced chips with military applications, highlighting U.S. government’s national security concerns. Notably, big Chinese tech companies like Baidu and Tencent have been placing huge orders with companies like Nivida for advanced chips since last year, especially after generative AI became a huge global phenomenon.
BlackBerry reports Surprise Profit, Thanks to Booming Cybersecurity Business
BlackBerry, which was once a formidable smartphone player, surprised investors by reporting better than expected profit for the first quarter. As on 31st March 2023, BlackBerry’s revenue stood at $373 million, topping analysts’ average estimate of $160.4 million. In terms of per share, BlackBerry reported a profit of 6 cents per share, beating analysts’ expectations of a loss of 5 cents per share. The cybersecurity business was the main driver of the company’s surprise profit. Nearly a decade ago BlackBerry was forced to exit the smartphone business and focus on emerging businesses like cybersecurity.